India has emerged as the second-largest producer of cell phones after China, according to Counterpoint Research, a global technology market research organization closely monitoring the production of electronic products.
As per the data shared by the research firm, overall shipments of handsets manufactured in the South Asian nation between 2014 and 2022 broke the two billion mark.
Additionally, it mentioned that India is set to produce 270 mobile phones in 2023, up by 20 million in comparison with the previous year when domestic production touched 250 million handsets.
What Makes India a Mobile Manufacturing Hub?
The significant rise in the production of mobile handsets in India can be due to multiple factors, such as:
an uptick in digital education,
government incentives to manufacturers, and
growing demand for phones in the country.
Here we are talking about India's Production Linked Incentive (PLI) scheme, under which authorities provide 4 to 6 percent financial incentives to companies based on annual sales.